NCERT Solutions for Class 10 History Chapter 3 The Making of A Global World

G-77 countries is an abbreviation for a group of 77 countries that had demanded a new international economic order which would give them more control over their natural resources. The G-77 was a reaction to the activities of the Bretton Woods twins as the International Monetary Fund and the World Bank were designed to meet the financial needs of only industrialized and developed countries.

The Great Depression was a caused due to the following factors:

• Income and Prosperity in USA increased as it was very less affected by World War I. This caused an increase in demands and due to less production, inflation increased.

• The stock exchanges crashed in 1929 which created panic among investors and depositors as they lost money and started accumulation of wealth.

• Banks were closed and companies failed to get capital for investments.

The examples of the different types of global exchanges that took place before the seventeenth century are as follows:

• Europe and Asian countries exchanged Spices and Textiles for Gold.

• America exchanged food and Gold with the European nations during the Colonial period.

The Europeans were immune to the diseases but the natives of other nations outside of Europe were not. So, when they were infected with the diseases, their population suffered as they had to fight from within and this made them weaker and also drained their resources. So, Europeans were able to colonize them easily.

(a)  Due to the abolition of corn laws, the British farmers migrated to cities and took up other professions and eventually led to high industrial growth.

(b)  Due to rinderpest, the livelihoods of the Africans were destroyed and this made the Europeans to colonize the Africans easily.

(c)   Due to the death of young men in World Wars, the women came out to work and they improved their position in the society.

(d)  The great depression led to loss in revenue for the farmers of India s the export prices fell drastically. However, the British Government did not decrease the taxes and this led to a massive unrest in India which paved the way for Indian Independence a few years later.

(e)   Due to the relocation of production to Asian countries, the Asian economies grew manifold and there was an increase in employment. The profits of the MNCs increased and the West also prospered due to which Global Production Networks were formed.

Here are the two examples from history to show the impact of technology on food availability:

Faster railways, lighter wagons and larger ships led to the transport of food quickly from which decreased the cost of food.

Refrigerated ships facilitated the transport of perishable goods to far off nations.

The Bretton Woods Agreement was signed in July 1944 at Bretton Woods in New Hampshire, USA by which the International Monetary Fund and the World Bank were established to preserve global economic stability and employment in the industrialized nations.

Here is a sample letter:

Dear Family Members,

I hope you all are doing great and are fine there. This letter is all about my life here in the Caribbean where I am an indentured labour.

When I came here, life seemed to be very hard and it came as a surprise upon arrival. However, I am hopeful to come out of it very soon. Although life here is full of struggles and hardships, I did not choose all of this willingly. The contract was made lucrative only on the basis of false information and promises. I am a slave here and do not make a lot of money. However, I believe that this shall pass soon.

Your Son,

Manish

The three types of movements or flows within the international economic exchange are:

• Trade Flow

• Human Capital Flows

• Capital Flows

Food such as potatoes, soya, groundnuts, chillies, etc. came to India from America.

Indentured labour was provided for mines, plantations and factories abroad which led to colonial domination of the British.

United Kingdom took many loans from USA to finance the World War. As India was an English colony, the impact of these loans was seen in India and it affected the Indian economy and people.